The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
005B
:
LIFE SETTLEMENTS
(Cite as: 8 V.S.A. § 3839)
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§ 3839. Reporting requirements and privacy
(a) Each life settlement provider shall file with the Commissioner on or before March
1 of each year an annual statement containing such information as the Commissioner
may prescribe by rule or order. Information relating to life settlement transactions
shall be limited to only those transactions where the policy owner is a resident of
this State. Upon proper request by the filer, the Commissioner shall keep confidential
trade secret information exempt from public inspection and copying under 1 V.S.A. § 317(c)(9). The annual statement shall not contain individually identifiable life settlement
transaction information, but such information shall be provided to the Commissioner
pursuant to section 3840 of this title. If available to the provider because of the provider’s business relationship or
affiliation with one or more life settlement purchasers, the annual statement shall
also include such information as the Commissioner may prescribe by rule or by order
concerning life settlement purchase agreements or similar investment contracts entered
into by residents of this State.
(b) A life settlement provider, life settlement broker, insurance company, life insurance
producer, information bureau, rating agency or company, or any other person with actual
knowledge of an insured’s or a policy owner’s identity shall be subject to the Department’s
Regulation No. IH-2001-I “Privacy of Consumer Financial and Health Information,” as
amended. (Added 2009, No. 53, § 1, eff. Jan. 1, 2010; amended 2015, No. 29, § 8.)